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Dec 3, 2013 3:00pm EST
think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a different fund if you need to. take the loss, put it in your pocket if you don't need it and carry it forward. tax law accounting is huge in investing. >> we've been out of the muni market for the past 14 to 15 months when munis started getting back over 5% we've been a buyer. we've been aggressively buying municipal bonds. >> rob morgan any opinion on that before we go, quickly? >> absolutely. i think having a portfolio for individual investor tilted more toward short end and rising rate environment makes sense. i think detroit bankruptcy spells trouble more for retirees on pension plans more for than m
Dec 4, 2013 3:00pm EST
, and this will be treated as law, was deeply flawed on the cftc's part. more details on that, kelly and bill, as we get them. we understand this suit has just been filed or will be imminently. it's certainly big challenge to see cftc chairman gary gensler in his final weeks of the job. >> all these countries, whether it's u.s. or europe, trying to move to indrese regulation but all these banks exist in so many jurisdictions. who do they have to listen to? what happens when rules conflict? a big financial trade association is pushing back to that ability to extend regulation beyond the u.s. >> we have a guest coming up we'll talk about that issue. >> heading toward the close. 50 minutes left in the trading session. the dow was down about 125 points at the low. we've come back. down 60 right now. it is our fourth consecutive down day here. >> and some new housing numbers out today. sales surging but a new bag of trouble could be brewing in the mortgage business. that could change the sales story in a hurry. >>> the winter chill can be a very good thing for retailers. courtney reagan will be here to tell us wh
Dec 6, 2013 3:00pm EST
overall tremendous tax law selling, tremendous capitulation. we saw this at the end of the second quarter with gold. just an absolute rush to the exits, quarter end rebalancing is a phenomenal time for investors to take advantage of capitulation. and that's what we're seeing with gold. >> okay. so, what you're saying, in other words, they take one of the few underperforming assets of the year. it's kind of its own idiosyncratic story, but is that it for gold? are we going to fall below 1200 here? >> no. i think this is a classic capitulation, a fear moment, where you have a lot of quarter-end rebalancing. a lot of pms have to -- you have risk manager tapping yourself on the shoulder. anyone who's taken professional risk, i've been there, the risk manager comes in, taps you on the shoulder, you have to cut the position in half. so i think in the first quarter, i think after january 1st there's going to be nobody left to sell gold and, say, coal names and gold names. both of those sectors are completely decimated. >> often there's a relationship between what's happening there between the em
Dec 9, 2013 3:00pm EST
spoken in a big way in that regard, lindsey. i believe both current law in dodd/frank and what happened to these people who were elected officials who are no longer elected will play a big role in stopping the next bailout. >> michael? >> i agree with lindsey. we don't want government in this role, period. but when we do have a very real situation that looks like too big to fail across banks and other industries we go through what we went through, the result really wasn't that bad. i don't think goth should be in this role and i don't think we've done anything to fix it. the banks are bigger other things are bigger. we'll have to do it again if we get there again. >> they're trying to write legislation to keep the fed from being able to exercise -- >> that's right, kelly. >> does it make sense? >> there's also more capital, michael. >> yes. >> a lot more regulation for better or worse. i would think given the capitalratios of some of these banks we're away from a t.a.r.p.-like situation -- >> although history after the fact is not that encouraging. we'll leave it th
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